Istanbul, historically known as Byzantium and Constantinople is Turkey’s largest city but not, as is commonly thought, Turkey’s capital. Over the last few years, the West side of Istanbul has seen a huge transformation in terms of economic growth, property prices and its development as a commercial hub within the region.
This growth is starting to decelerate now as businesses and individuals are beginning to recognise the potential in the Eastern side of the city with its lower land prices and more picturesque landscape. Leveraging the experience gained in developing the West, the East looks set to surpass the West side and become a commercial hub in its own right.
Not only are property prices in the East around significantly lower than the West, the gap is now steadily narrowing as commercial organisations, homeowners and tenants alike are beginning to realise the benefits of superior urban planning, better infrastructure, additional space and green areas as well as superior quality developments. Massive investment in infrastructure and the new Sabiha Gokcen airport is further increasing the growth potential of the East side of Istanbul.